The CFPB requested comment on a proposed framework for
certain periodic rule review.
Pursuant to
Section 610 of the Regulatory Flexibility Act, each agency is
required to periodically review the rules issued by such agency
which have a significant economic impact upon a certain number of
small entities. Given that the CFPB anticipates performing reviews
in the coming years to comply with this rule, it is requesting
comment on the review plan itself, even though it is not required
to do so.
Under the proposed review plan, the CFPB intends to commence the
review roughly nine years after each rule's publication. The
CFPB will consider several factors in each review, including
the:
